PDC DARTS has announced a major rebrand of one of its televised tournaments.
The World Masters will become a full ranking event in 2025 and be known under a new name.
Stephen Bunting is the reigning champion of the competition which was added to the televised PDC calendar in 2013.
From next year, it will be known as The Winmau World Masters.
Winmau is the official equipment provider to the PDC and has signed a ten-year sponsor deal.
The company first sponsored the event - now televised annually on ITV4 - way back in 1975.
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Over the years, it has been won by darts legends including Eric Bristow, Dennis Priestley and Phil Taylor.
The new-look tournament will feature the top 24 players on the PDC Order of Merit following the 2024/25 World Darts Championship.
It will take place between January 30 and February 2 next year at Milton Keynes’ Marshall Arena.
PDC Chief Executive Matthew Porter said: "We are delighted to share our exciting plans for reintroducing the Winmau World Masters to the darts calendar, which I'm sure will excite darts fans and players alike.
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"Since the beginning of our working relationship with Winmau, we have discussed the idea of reviving this historic event which in its heyday was one of the biggest prizes in the sport.
"We have worked closely with Winmau to adopt as many characteristics of the original format as is practical to, and in keeping with its global nature."
The tournament's preliminary rounds will see up to 180 players from around the world compete for eight places in the televised stages.
Per a PDC press release, the preliminary round "will be open to all non-qualified PDC Tour Card Holders, the top eight players from each of the PDC's 2024 Secondary Tours and Global Affiliate Tours, plus four players from the Junior Darts Corporation."
Porter continued: "The Preliminary Rounds will provide an opportunity for players around the world to play on one of the sport's biggest stages.
"This event’s expansion and change to a ranked event was another positive step for players on the PDC circuit.
"With tickets selling out in record time they can look forward to getting an opportunity to shine in front of a packed crowd at the Marshall Arena next year."
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Vince Bluck, Winmau Managing Director, added: "The Winmau World Masters has been at the core of competitive darts for over half a century and the PDC’s plans to restore the spirit of this iconic event will bridge the generations of darting excellence.
"We’re thrilled to be working closely with the PDC, championing players at every level and across every major darting nation, in line with the DNA of this historic event.
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"The Winmau World Masters embodies everything that's great about our sport.
"By combining this with the PDC’s showcase arena atmosphere, broadcast to millions of fans around the world, we will be able to captivate brand new audiences and create unrivalled opportunities for more dart players in this rapidly growing sport."